Sugar firm to meet shareholders at end of month

Thursday, Sep 19, 2019 10:35

A storage of Son La Sugar JSC. The company plans to pay a 50 per cent dividend for making big profit in the financial year 2018-19. — Photo

Son La Sugar JSC will hold its annual shareholders’ meeting for the financial year 2019-20 on September 26.

Its financial year started on July 1 and ends on June 30 the following year.

The company said total revenue in the last financial year was VND890 billion (US$38.3 billion), 1.2 per cent lower than the full-year target.

However, the post-tax profit was VND63.2 billion – triple the year’s target. Earnings per share was VND6,458.

Though total area of sugarcane increased by 23.4 per cent yearly to more than 9,380ha, productivity still missed the full-year target, the company said.

Average sugar price in financial year 2018-19 was VND10,156 ($0.44) per kilo, down 25 per cent from the previous year.

The company plans to pay a 50 per cent dividend worth VND49 billion to investors for its results in the past financial year.

In financial year 2019-20, the firm targets full-year revenue of VND864 billion, post-tax profit of VND25.5 billion and a 10 per cent dividend payout.

The company's stock soared 8.7 per cent to end Wednesday at VND43,600 per share. —VNS

Comments (0)